KeyBanc analyst Austin Wurschmidt upgraded DiamondRock to Sector Weight from Underweight as part of a broader research note on the REIT sector. The analyst says the setup for DiamondRock into 2020 appears better than 2019, as challenges from a tough year for citywide calendars across its market improve. While lodging fundamentals remain challenged broadly, and markets like NYC could continue to find their footing due to elevated supply, the analyst says the relative setup for DiamondRock vs. peers appears to be improving.

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